CHICAGO - (November 21, 2025)
Firm will also assume management of Eleven33, located adjacent to CTA and Metra rail lines
Chicago-based Draper and Kramer, Incorporated, announces it has expanded its Chicago-area portfolio with the acquisition of Eleven33, a 12-story, 263-unit luxury rental community in Oak Park, Ill., about 10 miles west of downtown Chicago. The firm will also assume management of the property.
Located in the heart of downtown Oak Park at 1133 South Blvd., Eleven33 is across from the CTA’s Harlem/Lake Green Line station as well as Metra’s Oak Park station on the Union Pacific West Line, which both provide service to downtown Chicago. The building is also walking distance from a variety of shopping and dining options along nearby Lake Street and within the city’s Pleasant District, several local parks including Scoville Park, the Oak Park Public Library and Oak Park’s famed Frank Lloyd Wright Historic District.
“Although our multifamily portfolio spans markets across the country, Draper and Kramer always has been and always will be a Chicago company, so when this property became available, we knew it was a special opportunity to invest in our own backyard,” said Blas Puzon, chief investment officer with Draper and Kramer. “Eleven33 hits the sweet spot for us as an amenity-rich Class A building in a highly walkable area — in this case, one of Chicago’s most popular inner-ring suburbs. The lifestyle offered not only by Eleven33 but also the surrounding neighborhood gives it tremendous appeal among renters seeking lower-density urban living.”
Completed in 2019, Eleven33 is currently 95% leased and has averaged 94.4% occupancy since January 2024. It offers studio, one-, two- and three-bedroom apartments, with monthly rents currently starting at $1,945. Units, which measure from 512 to 1,500 square feet, feature 9- and 10-foot ceilings and oversized windows; plank-style flooring throughout the main living areas; in-unit laundry; generously sized walk-in closets; and contemporary kitchens with quartz countertops, two-tone cabinetry with undermount lighting, stainless steel appliances including gas cooktops, and waterfall islands with designer pendant lighting, per plan. Select units also have a private balcony or terrace, or access to a shared terrace.
Amenities at Eleven33 include a 24-hour fitness center with yoga and exercise studios; parlor area with billiards table; two conference rooms; a clubroom and entertainment lounge with catering kitchen; and indoor bike storage. Residents also have access to a resort-style sun deck on the fifth floor, with a spacious terrace, fire pits and grilling stations. Eleven33 is a pet-friendly building, offering residents access to pet washing stations and an enclosed indoor dog run with direct outdoor access. While Eleven33 is adjacent to public transit, the building also has a controlled-access parking garage with 252 resident spaces available for rent and 148 public spaces.
Draper and Kramer has also taken over management of Eleven33, adding the community to its portfolio of Chicago-area properties under management. One of the leading privately held, full-service real estate firms in the United States, Draper and Kramer currently manages a portfolio of more than 5,500 rental units, including more than 4,600 owned by Draper and Kramer, across Chicago, St. Louis, Dallas, Austin, Phoenix and Denver.
“The Draper and Kramer team has deep expertise in operating properties that are similar in size to Eleven33 and also located in urban settings, and we are also retaining most of the current on-site staff, so the management transition should be seamless for Eleven33 residents,” said Puzon. “As with every property in our portfolio, our focus is on delivering a high-service rental experience that fully complements everything this building and this ideal Oak Park address have to offer.”
Newmark represented ownership of Eleven33 in the property’s sale. Draper and Kramer did not have broker representation.
About Draper and Kramer
Founded in 1893, Draper and Kramer, Incorporated is a trusted financial and property services provider with a deep commitment to people, excellence, service and integrity spanning more than 130 years. Family-owned and one of the leading privately held real estate services firms in the U.S., Draper and Kramer is headquartered in Chicago with a national reach and broad offering of services. The company’s decades-long heritage has evolved over the years and today spans expertise in residential and commercial development, acquisition, property management and leasing; and debt and equity financing for commercial properties. Draper and Kramer provides a single source of real estate-related counsel to a diverse group of real estate investors across the U.S., including corporations; private and institutional owners and users of real estate; government agencies; and foundations. For more information, visit www.draperandkramer.com.
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Media Coverage:
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Chicago-based Draper and Kramer has acquired Eleven33, a 12-story, 263-unit luxury rental community in downtown Oak Park, Ill., located across from the CTA's Harlem/Lake Green Line station as well as Metra’s Oak Park station on the Union Pacific West Line.
